The United States filed a complaint under the False Claims Act (FCA) against Regeneron Pharmaceuticals Inc. (Regeneron), a New York-based pharmaceutical company. Regeneron manufactures and sells Eylea, an anti-vascular endothelial growth factor inhibitor approved by the Food and Drug Administration to treat,...
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Intel unveils newest artificial chip Gaudi 3 one and a half times faster than Nvidia’s H100 GPU
Meta's open-source Llama and the Abu Dhabi-backed Falcon and Intel says Gaudi 3 can help train or deploy models, including Stable Diffusion or OpenAIās Whisper model for speech recognition. Intel also says its chips use less power than Nvidiaās.
The data center AI market is also expected to grow as...
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China’s major telecom manufacturer Huawei faces possible criminal trial in January 2026
China's top cell phone manufacturer Huawei, which has developed some of the most advanced cell phones in the world, may face a criminal trial in early 2026 for misleading banks about its business in Iran.Since 2019, the US has restricted Huawei from access to US technology saying is...
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Owner of telemedicine company Expansion Media pleads guilty to $110 Million Medicare fraud scheme
The owner of Expansion Media (Expansion) and Hybrid Management Group (Hybrid) pleaded guilty in connection with a $110 million telemedicine fraud scheme involving medically unnecessary durable medical equipment (DME), including orthotics such as back and knee braces. Steven Richardson, 40, of Parkland, Fla., pleaded guilty to one count of conspiracy to commit health...
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Billionaire Joe Lewis avoids prison time for insider trading
British billionaire Joe Lewis, was sentenced to three years of probation Thursday after pleading guilty to insider trading in New York and admitting to sharing business secrets with personal friends. The sentence also includes a $5 million fine and restrictions on his business activities for years...
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US Cyber Safety Board blames Microsoft’s deficient security culture for Chinese hacks
A new report issued by the US Cyber Safety Review Board examining the damaging cyber attacks committed by Storm-0558 from China, which caused enormous loss of data was preventable but was not halted due to Microsoft's security systems and culture were was inadequate and requires an overhaul. āThe board finds that Microsoft...
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Standard & Poor’s credit rating ageny to pay $77 million to settle SEC and state charges over ratings
The Credit-rating agency Standard & Poor's will pay $77 million to settle with U.S. and state regulators over "fraudulent misconduct." The SEC and state attorneys general alleged that the company publicly misrepresented the methodology it was using to rate six different CMBS products in 2011. In...
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Two men sentenced for their part in $9 Million fraud scheme
The owner of two California-based hospice companies, and his biller and consultant, were sentenced yesterday for their respective roles in a scheme that resulted in stealing over $9 million from Medicare in false and fraudulent claims for hospice services.
Gayk Akhsharumov, 40, of Glendale, California, the manager and...
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Commerce Dept sends letters to 20 US companies naming 600 foreign parties selling their restricted tech to Russia
There is an interesting article in the Wall Journal dated today, March 29, 2024 which says that the U.S. Commerce Department has sent letters to more than 20 U.S. companies with a list of 600 foreign parties that appear to be selling restricted technology to Russia. The full article is here:
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U.S. releases draft federal rules for cyberattack reporting rules for critical infrastructure companies
The United States Cybersecurity and Infrastructure Security Agency has released draft of the rules explaining how critical infrastructure companies must report cyberattacks to the government. Companies owning and operating infrastructure will need to report significant cyberattacks within 72 hours and report ransom payments within 24 hours. The rules target any company...
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